Unitree Robotics stock opened at 1,100 yuan on Wednesday at the Shanghai Stock Exchange, representing a 629% surge from the offer price of 150.8 yuan. The Hangzhou-based company raised approximately 6.1 billion yuan, equivalent to 905 million dollars. Crypto derivatives traders had underpriced the IPO in their pre-IPO perpetual futures contracts. The share price subsequently trimmed gains to settle at 968.1 yuan. This remarkable performance far exceeded crypto market expectations.
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